CT HB05190

Establishes a 30% tax credit for qualified rehabilitation expenditures on historic homes containing 1-4 dwelling units, with owner occupancy requirement of at least 5 years as primary residence.

Requires Department of Economic and Community Development to certify rehabilitation plans meet historic preservation standards before work begins and to issue tax credit vouchers upon completion.

Minimum qualified rehabilitation expenditure threshold of $15,000 required; credit capped at $30,000 per dwelling unit ($50,000 for nonprofit corporation owners).

Tax credits valid against state income taxes (chapters 207, 208, 208a, 209, 210, 211, 212, 229) with unused portions carried forward up to four years; excess credits against chapter 229 tax refundable without interest.

Annual cap of $3 million in reserved tax credits, with 70% of credits designated for historic homes in regional centers as defined in the state plan of conservation and development.